What are the current industrial activity trends in the Boise Valley?
While industrial activity has slowed by 5 percent from Q1 2022, compared to last year (2021) the number of industrial deals are up 7 percent. Organic growth is expected to continue to drive industrial leasing activity with the addition of new tenants and tenant expansion occurring throughout the Boise Valley.
Is there a lot of industrial construction in the Boise Valley?
Speculative Construction has reached a record high of 881,100 SF halfway through 2022. The next half of the year is expected to see nearly 1.5 million square feet of new industrial construction being completed.
What are current industrial vacancy rates looking like?
All Boise Valley markets have total industrial vacancy rates that are under 3%, with the exception of Kuna. The total industrial vacancy rate is currently sitting at 1.2 percent but has remained below 1.5 percent over the past twelve months.
What are industrial net absorptions trends?
Throughout 2022, all Boise Valley submarkets have stayed in positive net absorption ranges. Industrial net absorption in Caldwell submarket is up 38% from 2021.
For more information on the current state of the office market, you can read our current quarter's Industrial Market Report or subscribe to receive quarterly updates.